In pre-market action in New York Wednesday, JC Penney Company Inc (NYSE:JCP), the famous US department store, saw shares shoot up over 15% to $1.80.
It came after the retail chain said in extended hours that it had hired Jill Soltau as its new chief executive. She is the former CEO of Joann Stores and she will replace Marvin Ellison who departed earlier this year.
Soltau will take up the role at the struggling retail chain on October 15 and will also become a member of its board. Ellison left suddenly in May to become the CEO of Lowe's (NYSE:LOW).
Also in today's pre-market news, Tempur Sealy International Inc (NYSE:TPX), the mattress and bed giant, rose almost 9% to $52.62 after reports that its competitor Mattress Firm was preparing to file for bankruptcy.
Mattress Firm has been owned by South African retail conglomerate Steinhoff International Holdings for the last two years.
Elsewhere, garnering investor interest was Upwork Inc (NASDAQ:UPWK), which priced its initial public offering (IPO) higher than expected last night.
The software group revealed it would sell around 12.48 million shares at $15 each to raise at least $187 million, after previously aiming for a price range of between $12 to $14.
Underwriters, led by Citigroup, have access to almost 1.9 million further shares in the event of an overallotment.
Also, house builder Lennar Corp (NYSE:LEN) saw shares add 2.10% to stand at $47.86 before the bell after it unveiled a fiscal third-quarter profit, which rose above expectations.
Net earnings for the three months to end August rose to $453.2 million, or $1.37 a share, from $249.2 million, or $1.04 a share, in the same period last year. Consensus had been for earnings per share of $1.18.
Lastly, GoDaddy Inc (NYSE:GDDY) announced that its founder Bob Parsons has resigned from the board with effect from Friday.
The cloud platform for small business said Parsons will devote all his time to an array of businesses he created under the Yam WorldWide Umbrella.
Shares in GoDaddy were unchanged at $81.67 in pre-market deals.